Bell Investment Advisors Inc Acquires 571 Shares of Alphabet Inc. $GOOG

Bell Investment Advisors Inc raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,158 shares of the information services provider’s stock after buying an additional 571 shares during the quarter. Bell Investment Advisors Inc’s holdings in Alphabet were worth $2,511,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. RDA Financial Network increased its stake in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after buying an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $213,000. Tower View Wealth Management LLC increased its position in shares of Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. raised its holdings in shares of Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after acquiring an additional 1,970 shares during the period. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wolfe Research increased their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Oppenheimer increased their price objective on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Rosenblatt Securities set a $279.00 price target on Alphabet in a research report on Thursday, October 30th. Finally, Bank of America raised their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Down 0.8%

GOOG stock opened at $276.98 on Friday. The company has a market cap of $3.34 trillion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.36. The business has a 50 day moving average price of $257.84 and a two-hundred day moving average price of $209.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 EPS. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.